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The Firms failed to keep for prescribed periods, and furnish copies of, such business–related records as necessary or appropriate in the public interest or for ...
Broker-dealer didn't regularly review, assess, or update keywords used by the firm to flag e-mails for review
FINRA is actively conducting risk-based reviews of firms' practices tied to off-channel communications
Regulators 'signaling as loudly as they can,' expert warns
The Commission's move was prompted by a rulemaking petition submitted after the SEC's 2020 adoption of rule 15c2-11 amendments
Commissioner characterized the penalties associated with off-channel communications-related enforcement actions as "astonishing"
Penalties top $5 billion, Grewal seeks 'three e's'
The SEC charged 10 firms for widespread and longstanding failures to maintain and preserve electronic communications
SEC Enforcement Director reminds that there are "real benefits to self-reporting, remediating and cooperating"
Using their personal devices, these employees communicated both internally and externally by personal text messages, or other text messaging platforms such as WhatsApp and GroupMe ...